JMST vs VYM
JPMorgan Ultra-Short Municipal Income ETF vs Vanguard High Dividend Yield ETF
Quick Verdict
VYM has a lower expense ratio. VYM delivered stronger 1-year returns. JMST offers more diversification with 1,617 holdings.
Side-by-Side Comparison
| Metric | JMST | VYM | Winner |
|---|---|---|---|
| Expense Ratio | 0.18% | 0.04% | |
| AUM | $7.2B | $81.6B | |
| Dividend Yield | 2.62% | 2.24% | |
| Holdings | 1,617 | 616 | |
| YTD Return | +1.49% | +14.66% | |
| 1Y Return | +2.53% | +22.16% | |
| 3Y Return (annualized) | +3.34% | +18.72% | |
| 5Y Return (annualized) | +2.35% | +12.18% | |
| Volatility (annualized) | 0.8% | 14.6% | |
| Max Drawdown | -2.4% | -58.8% | |
| Fund Family | J.P. Morgan Asset Management | Vanguard (US) | |
| Category | Fixed Income | Equity | |
| Inception | Oct 16, 2018 | Nov 10, 2006 |
JMST vs VYM Performance
JPMorgan Ultra-Short Municipal Income ETF (JMST) is a ETF from J.P. Morgan Asset Management and Vanguard High Dividend Yield ETF (VYM) is a ETF from Vanguard (US). Over the past year JMST returned +2.53% while VYM returned +22.16%. Year to date, JMST is up 1.49% versus a gain of 14.66% for VYM.
Over three years, JMST compounded at +3.34% per year against +18.72% for VYM; over five years the annualized figures are +2.35% and +12.18% respectively. Across the full 8-year window we track, VYM has the edge at +7.01% annualized vs +1.78%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VYM has been the more volatile fund, with annualized monthly volatility of 14.6% compared with 0.8% for JMST. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -2.4% for JMST and -58.8% for VYM. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.37. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
JMST charges 0.18% per year while VYM charges 0.04%. On a $10,000 position that is $18 vs $4 annually, a gap of $14 per year that compounds over a long holding period. On income, JMST currently yields 2.62% against 2.24% for VYM.
Holdings Overlap
JMST and VYM share 0 holdings out of 636 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, JMST or VYM?
JMST has an expense ratio of 0.18% while VYM charges 0.04%. VYM is the cheaper option. On a $10,000 investment, that is $14 per year of difference.
Which performed better, JMST or VYM?
Over the past year JMST returned +2.53% vs +22.16% for VYM, so VYM leads on 1-year performance. Over the longest common window we track (8 years), JMST annualized +1.78% vs +7.01% for VYM. Past performance does not guarantee future results.
Which is riskier, JMST or VYM?
VYM has been the more volatile fund at 14.6% annualized versus 0.8% for JMST. Worst drawdown: JMST -2.4% vs VYM -58.8%.
Should I hold both JMST and VYM?
JMST and VYM have a monthly-return correlation of 0.37, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between JMST and VYM?
JMST and VYM share 0 common holdings with a 0.0% weight overlap. Combined, they hold 636 unique securities.
Which pays a higher dividend, JMST or VYM?
JMST yields 2.62% while VYM yields 2.24%, so JMST currently pays the higher dividend yield.
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